Kuaishou has raised 19 billion yuan ($2.79 billion) for its Kling AI subsidiary, which aims to provide AI-driven services for creators:
The company was reportedly targeting a valuation of $15 billion from this round, which saw Tencent invest $200 million:
Kuaishou shares rose by over 5% at Friday's market open but later dipped to trade 0.1% lower:
Kuaishou is China's second most popular short-video platform, boasting 700 million monthly active users:
